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realord group (01196.HK) plans to sell 75% equity of Sincere for 0.388 billion Hong Kong dollars
Glory Times, November 1st: Realord Group (01196.HK) announced that on November 1, 2024, the company entered into an agreement with Merrill Holdings. Under this agreement, the company conditionally agrees to sell, while Merrill Holdings conditionally agrees to acquire the shares (representing 75% of the total number of issued Shinsha shares held by the company on the date of the agreement) at a price of 0.388 billion Hong Kong dollars, which shall be paid by Merrill Holdings through offsetting part of the shareholder loan owed by the company to Merrill Holdings on an equal basis. Shinsha is a company listed on the Hong Kong Exchanges and Clearing Limited, with its main business being the operation of department stores. Shinsha has three non-wholly owned subsidiaries, namely Shinsha Life.
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